Proteon triggers a stock implosion as its first PhIII proves to be a bust
This morning it was Proteon Therapeutics’ $PRTO turn to join the queue of small biotechs to step on a land mine.
The Waltham, MA-based biotech’s shares cratered, plunging 70% in pre-market trading after the biotech reported that their Phase III trial of vonapanitase (which used to be called PRT-201) failed the primary endpoint on reducing the risk of what’s called primary unassisted patency — the length of time from fistula surgical creation to the first occurrence of a fistula thrombosis or corrective procedure to restore blood flow.
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